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- Commercial Chapter Advisory Council Sets the Stage for 2024 and Beyond
- C/I Marketing Exchange Meetings Return to TCSR in New Hybrid Format
- Free Commercial Real Estate Boot Camp Coming This Fall
- NAR Webinar: Leveraging Commercial Tactics in Residential Markets
- Older Offices Are the Biggest Concern for U.S. Commercial Real Estate, Says Investor
- How Commercial Real Estate Landlords Can Meet Ongoing Shifts In Tenant Behavior
- Netflix Plans Two-Story Netflix House at King of Prussia Mall With Themed Experiences and Dining
- Calendar of Events
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Commercial Chapter Advisory Council Sets the Stage for 2024 and Beyond The Commercial Chapter Advisory Council met on August 21st at Tri-County Suburban REALTORS® Headquarters in Malvern. A group of 16 members including Chairman of the Board, Michael Maerten, and Incoming Chairman-Elect, Michael Howell were in attendance to discuss the upcoming plans for 2024 and 2025. Upcoming event planning includes key educational opportunities for members new to commercial real estate, as well as a presentation with leaders from key organizations like PAR and Bright MLS centered around commercial real estate. The Chapter is happy to report an additional 60 members have joined the Chapter within the calendar year, and will continue to grow under new leadership.
The Chapter is so excited to welcome Carl Adams as the new Chairman for the Commercial Chapter Advisory Council, and want to thank Harry Pennywell for his many years of service to this arm of the organization.
The Commercial Chapter is also welcoming Joseph Scott McArdle, CCIM as the official host of the Quarterly Commercial/Industrial Marketing Exchange meetings beginning in October.
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C/I Marketing Exchange Meetings Return to TCSR in New Hybrid Format The Commercial/Industrial Marketing Exchange Meetings are BACK, now in a HYBRID format! The first meeting of 2024 will meet in-person at the Tri-County Suburban REALTORS® office in Malvern, PA – and via Zoom on October 11th.
Featured speaker is Jeff Metzger from Food Trade News who will join virtually. Jeff has been reporting on, analyzing, and providing opinion on the retail grocery business since 1973. He writes the closely followed Taking Stock column, and serves as the organization’s Publisher and President.
Starting at 9:00 am, attendees will participate in a Marketing Exchange where ‘haves’ and ‘wants’ will be presented to other Commercial Real Estate professionals. Have a CRE buyer or lessee and looking for a property? Have a CRE listing or property for lease and looking for a buyer or tenant? Looking for a development opportunity? Or a financing option?
This is a working meeting hosted by Tri-County’s Commercial Chapter with an emphasis on networking and deals.
Use this Quick Form to provide the details, or bring your own property flyer. After the meeting, all forms and flyers presented will be packaged together and shared with thousands of CRE practitioners in the region.
For the IN-PERSON event, no registration is necessary.
To register for the VIRTUAL OPTION, click here.
Once registered, virtual attendees will receive the Zoom Meeting link directly from Zoom.
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Free Commercial Real Estate Boot Camp Coming This Fall
If you've ever considered expanding your real estate career, now is the perfect time to explore commercial real estate—a sector known for its high earning potential and diverse opportunities. According to the National Association of REALTORS®, commercial real estate professionals often have higher earning potential compared to their residential counterparts. The NAR 2023 Commercial Member Profile reported that the median gross annual income for commercial REALTORS® was $134,100, compared to $54,300 for residential specialists. This reflects the larger transaction sizes and higher commissions typically involved in commercial real estate
Commercial real estate offers diverse opportunities beyond just brokerage, including property management, investment analysis, and development. The commercial sector allows practitioners to specialize in various niches like office, retail, industrial, or multifamily properties. This diversification not only broadens expertise but also provides more avenues for career growth and stability in fluctuating markets.
The Commercial Real Estate Boot Camp is designed for PA real estate licensees interested in potentially transitioning to a commercial real estate based practice. The bootcamp is 4 sessions throughout the month of October all taught by a Tri-County member and highly experienced commercial real estate practitioner.
Attendees will gain the most benefit by attending all four sessions, but each is designed to stand alone.
Tuition is free for members of Tri-County Suburban REALTORS®, and $25.00 for non-members. Registration is required. Please share this upcoming opportunity with your networks.
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NAR Webinar: Leveraging Commercial Tactics in Residential Markets
September 11th, 1:00pm - 2:00pm. As the real estate industry continues to evolve, adapting and innovating is essential to stay competitive. In this dynamic session, expert panelists from across the country will reveal how commercial real estate strategies can transform your approach to residential markets. You’ll discover actionable insights into applying key commercial principles — such as strategic marketing and advanced client relationship management — to boost efficiency, profitability, and client satisfaction in your residential business. Gain the tools and knowledge to leverage commercial real estate tactics and uncover new growth opportunities that will set you apart in today’s competitive landscape. Register now.
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Older Offices Are The Biggest Concern for U.S. Commercial Real Estate, Says Investor
Warren Wachsberger of Eldridge Acre Partners says the short-term issues facing U.S. commercial real estate has made it an investment opportunity and that values have bottomed out.
Source: CNBC, September 3, 2024
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How Commercial Real Estate Landlords Can Meet Ongoing Shifts In Tenant Behavior
The Covid-19 pandemic has forever changed the way we live and work. When people think of the office today, they no longer imagine their desk or a room with four walls. The concept of asset obsolescence, the convergence of everyday locations such as the office, home and third places like coffee shops or the gym has become more prevalent and inevitably affected tenants’ behaviors toward the workplace.
With tenants now less willing to conform back to a standard office setting, landlords’ ability to prioritize the needs of tenants and meet ongoing shifts in tenant behavior now dictates the successful leasing of office building space. The good news: According to CBRE’s 2023-2024 Global Workplace and Occupancy Insights report, 66% of commercial real estate teams see improving the workplace experience for tenants as a top priority—indicating there is already an understanding among landlords that having a tenant-centric mindset will be pivotal to them.
Read the full article via Forbes, here.
Source: Forbes, July 2024
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Netflix Plans Two-Story Netflix House at King of Prussia Mall With Themed Experiences and Dining
Netflix is targeting Philadelphia for one of the first locations of its new retail, dining and live entertainment experience. The streaming giant plans to open a Netflix House in the former Lord & Taylor spaceat the King of Prussia Mall. The brick-and-mortar concept aims to immerse customersin their favorite Netfl ix shows and movies through themed merchandise, foodand activities.
Netflix has previously created several temporary activations around the world based onits content, including the "Stranger Things Experience" and "The Queen's Ball: A Bridgerton Experience," as well as a pop-up restaurant called Netflix Bites. Netflix Housegives the streaming service a permanent venue to host its themed experiences. "This isn't a place that folks are going to travel to once a year," Brent Nikolin, senior program manager for Netflix's live experience team, told members of the Upper MerionTownship Planning Commission during a presentation Wednesday night. "We want to bein the communities. We want to be in city centers. We want to be in great malls like King of Prussia where people come over and over again.
Nikolin said Netflix expects to open the venue in late 2025. Bloomberg reported
in October 2023 that Netflix plans to open its first 2 Netflix House locations that year.
Netflix is seeking approval from the Upper Merion Township Board of Supervisors for conditional use of the former department store as a performing arts facility and movie theater to host the proposed activations within Netflix House. The Planning Commission unanimously recommended the application for approval during the Wednesday meeting. The entertainment company went before the Board of Supervisors for final approval on April 11th.
Preliminary plans for the 120,354-square-foot space presented during the meeting include two large experience rooms and a roughly 250-seat theater on the first floor, according to Sean Noble, the operations manager for Netflix's live entertainment team. The second floor is expected to house one small experience room, one medium-size experience room and a food, beverage and retail marketplace.
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| October 7th; 10:00am - 12:00pm
Tri-County Suburban REALTORS®, Malvern
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| October 11th; 8:15am - 9:30am
Tri-County Suburban REALTORS®, Malvern or Virtual Via Zoom
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| October 15th; 10:00am - 11:30am
Tri-County Suburban REALTORS®, Malvern
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| October 22nd; 10:00am - 11:30am
Tri-County Suburban REALTORS®, Malvern
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| October 29th; 10:00am - 11:30am
Tri-County Suburban REALTORS®, Malvern
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